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20 October 2020, 17:57

Golovchenko expects economic recovery growth, launch of new investment cycle in 2021

Roman Golovchenko
Roman Golovchenko

MINSK, 20 October (BelTA) – The recovery growth of the economy and the launch of a new investment cycle are expected to happen in Belarus in 2021. Prime Minister of Belarus Roman Golovchenko made the statement during the Council of Ministers session held on 20 October to discuss the draft social and economic development forecast, the draft main monetary management guidelines, and the draft central state budget for the year 2021, BelTA has learned.

Roman Golovchenko noted: “It was determined during the session of the Council of Ministers' Presidium that 2021 will be a year of recovery growth of the economy, a year of the launch of a new investment cycle. The most important thing is what resources and economic policy tools will be used to ensure the achievement of the investment goals.”

According to the head of government, it is impossible to ensure fast economic growth in Belarus without pouring more investments into fixed capital.

Roman Golovchenko stressed that efforts to accomplish this task should be based on the resolution of problems of “the chronic triad of economic risk” – the unstable financial situation, the high level of loan debts, and the shortage of their own floating assets in real sector enterprises.

Roman Golovchenko pointed out that raising the living standards and the quality of life of the population was the main indicator in the course of the follow-up revision of the next year's social and economic development forecast. Among priorities he also mentioned the stimulation of business activity and investment activity of economic agents primarily by securing quality parameters of economic development. “After perusing the provided materials I can see that an understanding on the key matters has been mainly reached. If there are still differences of opinion to be addressed, we have to discuss them today and get rid of them completely,” he concluded.

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